Zay Richard H. 4

What Happened Richard H. Zay, Chief Commercial Officer of Tennant Co. (TNC), was granted a total of 17,504 shares (two awards: 10,399 and 7,105 shares) on February 26, 2026 (reported on Form 4 filed March 2, 2026). The grants are reported at $0.00 per share (code A — award/grant). To cover tax obligations related to the award, 3,269 shares were withheld (code F) at a reported per-share value of $62.73, totaling about $205,064. At the market price used for the withholding, the full award equated to roughly $1.10 million of shares.

Key Details

• Transaction date: 2026-02-26; Form 4 filed: 2026-03-02.
• Grants: 10,399 shares (A) and 7,105 shares (A) — total 17,504 shares awarded at $0.00 (compensation award).
• Tax withholding: 3,269 shares (F) disposed/withheld at $62.73 each = $205,064 (used to satisfy tax liability).
• Shares owned after transaction: not specified in the provided filing details.
• Notable footnotes: Code A = award/grant (likely RSUs or similar); Code F = payment of exercise price or tax liability (here used for tax withholding).
• Timeliness: filing date provided; no late‑filing flag indicated in the supplied data.

Context These entries reflect a compensation award and the routine withholding of shares to satisfy tax obligations — not an open‑market sale or a purchase. Withheld shares reduce the number of newly issued/vested shares delivered to the insider and are a common administrative step when equity awards vest. Such awards are compensation and do not by themselves indicate the insider is buying or selling stock for investment reasons.